Hollywood Sign Could Become Site of High-Priced Homes

May 23, 2008 06:00 PM
by findingDulcinea Staff
It may be famous land, but to developers it’s simply empty land. The 138-acre parcel next to the Hollywood sign is for sale.

30-Second Summary

The natural area surrounding the sign is beloved by hikers, joggers and preservationists, who want to keep the site as pristine as it has always looked in postcards. 

But some fear that the land, including the hill where the famed sign sits, known as Cahuenga Peak, could soon be cluttered by real estate.

An investment group that owns the parcel put the land on the market last month for $22 million. In the past, developers have eyed the spot as a prime location for luxury estates.

If residents and city council members get their way, developers won’t have the chance. 
Resident Yvonne Chotzen said she believes people would “do everything from bake sales to jog-a-thons to stop this.” She is probably right. Area residents raised $3.1 million to buy the land in 2006 when they thought the land might be threatened by development.

The land has remained vacant until now, when worries about real estate marring the Hollywood sign’s purity have resurfaced.

"That is our Eiffel Tower," Councilman Tom LaBonge said. "There is the Hollywood sign. There is the open space. And that's all there is. This is ours and it should remain ours."

Headline Links: Hollywood land for sale

Related Topics: Hollywood’s influence and other sites threatened by development

Background: Not the community’s first attempt to save the sign

Historical Context: History of the Hollywood sign

Reference: Hollywood’s most famous symbol


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